Turnkey Duplex with Separate
For Sale
$684,000
5814 Cleveland Street, Hollywood, FL 33021
Turnkey duplex with tenants in place, upgraded interiors, new roof and central A/C, and separate electric and water meters.
Property Size1,703 SF
Price / SF$401.64
Days on Market123
Property Features for 5814 Cleveland Street
General Information
Standard status
Active
Size
1,703 SF
Total Parking Spaces
4
Property subtype
Residential Income
Zoning
SR7 RM-1
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,847
Amenities
sealed driveways
added storage sheds
Building Details
Building Size
1,703 SF
Year Built
1963
Stories
1
Listing Agency:
The Keyes Company
Listed By:
Ricardo D Acuna · License #3223738
(954) 591-3811
Source:
Laerrealty
Added: May 8
Changed: Sep 3
Last Checked: Sep 6 at 4:14AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Keyes Company
Investment Insights
Based on property information with market context.
This turnkey duplex is offered with tenants in place and features recent upgrades aimed at low-maintenance operations. Improvements include a new roof (2024), central A/C installed in the 2BR unit (2023), remodeled kitchens with new appliances, updated electrical panels, and a freshly painted exterior. The property also includes separate electric and water meters to help simplify management and operating expenses. Additional exterior features include sealed driveways and added storage sheds for tenant convenience.
The property is located at 5814 Cleveland St, Hollywood, FL, and is described as just minutes from the Seminole Hard Rock Hotel & Casino, Hollywood Beach, and Fort Lauderdale Hollywood International Airport.
For a duplex buyer or investor, the combination of in-place tenancy and documented capital improvements supports a move-in-ready residential income setup.
The property is located at 5814 Cleveland St, Hollywood, FL, and is described as just minutes from the Seminole Hard Rock Hotel & Casino, Hollywood Beach, and Fort Lauderdale Hollywood International Airport.
For a duplex buyer or investor, the combination of in-place tenancy and documented capital improvements supports a move-in-ready residential income setup.
Key Highlights
- Turnkey duplex with tenants in place
- New roof in 2024
- New central A/C installed in 2023 in the 2BR unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$30,513
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.46%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$610,260
$610.3K
Cap Rate 7%
$435,900
$435.9K
Cap Rate 9%
$339,033
$339.0K
Market Conditions
NOI Build-Up for 1,703 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$46.0K $27.00/SF
− Vacancy
−$2.4K −$1.40/SF
EGI
$43.6K $25.60/SF
− OpEx
−$13.1K −$7.68/SF
NOI
$30.5K $17.92/SF
Area
Hollywood, FL
Vacancy
5.20%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$610,260
Cap Rate 7%
$435,900
Cap Rate 9%
$339,033
Alternative Uses
Best Use
Multifamily LT 5
$435.9K
$381.4K – $508.6K
NOI $30,513 @ 7.0% cap · market cap 4.46%
Second Best
Apartment 5plus
$405.5K
$354.8K – $473.1K
NOI $28,386 @ 7.0% cap · market cap 4.15%
Theoretical Best
Office A
$666.2K
$582.9K – $777.3K
NOI $46,635 @ 7.0% cap · market cap 6.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,007
Businesses Nearby
Explore this area
Business Placement
Demographics for 33021, FL
50,091
Population
21,930
Households
2.3
Avg Household Size
43
Median Age
38%
College-Educated
91%
High-School Grad
8.8 sq mi
ZIP Area
5,692
Density / Sq Mi
$69,249
Median Household Income
$41,390
Median Earnings
$1,707
Median Rent
$395,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Turnkey duplex with tenants in place, upgraded interiors, new roof and central A/C, and separate electric and water meters.
Where is this duplex located?
The property is located at 5814 Cleveland Street Hollywood, FL.
What is the asking price?
The asking price for this property is $684,000.
What are key features of this property?
This property features: Turnkey duplex with tenants in place; New roof in 2024; New central A/C installed in 2023 in the 2BR unit
